Is it important to look at promotions from the previous year when planning future promotions?

Evaluating promotions from the previous year is essential when planning future strategies because it provides valuable insights into what worked well and what did not. Analyzing past promotions helps identify trends, consumer behavior, and the effectiveness of various marketing tactics. By reviewing historical data, category managers can determine which promotions led to increased sales, customer engagement, or inventory turnover, allowing for more informed decision-making when crafting future promotional campaigns.

Additionally, this analysis can reveal seasonal patterns, enabling businesses to align their promotions with consumer purchasing behaviors effectively. Studying past promotions also helps businesses avoid repeating any ineffective strategies, thereby optimizing their promotional budget and enhancing overall performance. This approach fosters a more scientific method of planning that incorporates lessons learned and data-backed insights, ultimately supporting better outcomes in future promotional efforts.